PUBLISHER: The Business Research Company | PRODUCT CODE: 1662920
PUBLISHER: The Business Research Company | PRODUCT CODE: 1662920
A caster wheel represents a non-powered wheel affixed to the underside of larger objects, facilitating their movement. Known for its durability, corrosion resistance, water resistance, and ability to withstand various weather conditions, caster wheels serve as effective mobility facilitators capable of bearing substantial weight without compromising performance.
The primary types of caster wheels include the swivel caster, rigid or fixed caster, ball bearing caster, and kingpin caster. A swivel caster is a specific type equipped with an additional swivel joint above the fork, enabling a full 360-degree rotation and facilitating movement in any direction. These casters are crafted from materials such as forged steel, cast iron, ductile iron, polyurethane, molded rubber, phenolic resin, and others, catering to diverse applications such as shopping carts, office chairs, toy wagons, hospital beds, and material handling equipment. The end users of caster wheels span across various industries, including automotive, aerospace, the food industry, medical field, textile industry, and other sectors where mobility and movement are essential aspects of operations.
The caster wheels market research report is one of a series of new reports from The Business Research Company that provides caster wheels market statistics, including caster wheels industry global market size, regional shares, competitors with a caster wheels market share, detailed caster wheels market segments, market trends, and opportunities, and any further data you may need to thrive in the caster wheels industry. This caster wheels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The caster wheels market size has grown strongly in recent years. It will grow from $9 billion in 2024 to $9.46 billion in 2025 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to industrialization and manufacturing growth, logistics and transportation development, focus on ergonomics and workplace efficiency, customization and specialized solutions, globalization and supply chain dynamics.
The caster wheels market size is expected to see strong growth in the next few years. It will grow to $12.42 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to demand for comprehensive services, rising demand for smart and IoT-enabled solution, regulatory compliance and safety standards, sustainability and environmental concerns, global manufacturing, and trade dynamics. Major trends in the forecast period include industrial automation, focus on ergonomics and mobility, specialized applications, advancements in materials and technology, sustainability and green initiatives.
The anticipated expansion of hospitals is poised to drive growth in the caster wheel market. Hospitals, as medical treatment institutions, extensively utilize caster wheels in various applications such as hospital beds, equipment carts, surgery tables, and IV poles. Notably, in December 2022, the Texas Legislature and Governor Greg Abbott approved $282.5 million for the expansion and design of a new hospital in Dallas-Fort Worth, featuring 296 beds. This investment is a response to the increasing demand for healthcare facilities, as evidenced by the Texas Health & Human Services Commission. Additionally, with over 80% of hospital beds in use in the US, the expansion of hospitals is identified as a key driver for the caster wheel market.
The growth of the caster wheel market is expected to be fueled by the burgeoning e-commerce industry. E-commerce, or electronic commerce, involves the buying and selling of goods and services through electronic networks. Caster wheels play a crucial role in material handling machinery used in distribution centers, enabling easy movement of cargo and streamlining logistics processes. As of October 2023, the US Department of Commerce reported a 7.7% increase in e-commerce sales, totaling $277.6 billion in the second quarter compared to the previous year. This surge in e-commerce activities is a significant factor contributing to the growth of the caster wheels market.
The emergence of new formulations and materials is a significant trend gaining traction in the caster wheel market. Leading companies in this sector are introducing anti-microbial wheels to enhance their market position. For example, in August 2024, Caster Concepts Inc., a US-based manufacturing firm, launched a line of heavy-duty casters designed for demanding applications. These custom-made casters are tailored for heavy, extra-heavy, and super-heavy-duty uses, capable of handling loads exceeding 100 tons, thereby ensuring the safe and efficient transport of substantial weights. Entirely manufactured in the U.S., these casters comply with stringent industry standards and are produced quickly for various industries, including agriculture, aerospace, and automotive.
Major players in the caster wheel market are strategically allocating investments to expand their presence and reinforce their market position. These investments are geared towards fostering the growth of their respective companies and hold the potential for substantial financial returns. A notable example is Caster Concepts Inc., a leading US-based industrial wheel and caster manufacturing corporation. In February 2023, the company unveiled a $2 million investment plan for the expansion of its 16,000-square-foot Central Michigan headquarters. This expansion initiative encompasses the enlargement of the engineering department, increased floor space for product development and testing, additional office space, an expanded manufacturing work area, enhanced employee facilities, and more truck docks to accommodate a higher volume of orders and deliveries.
In February 2023, Colson Group Holdings LLC, a US-based retail office equipment company, acquired Manner Castors for an undisclosed amount. This acquisition aims to enhance Colson Group's product portfolio and broaden its market presence in the caster and wheel industry. By integrating Manner Castors' expertise and innovative product offerings, Colson Group seeks to strengthen its position in the market. Manner Castors is a Finland-based company specializing in the manufacturing of industrial machinery.
Major companies operating in the caster wheels market include TENTE International GmbH, Brauer Ltd., CASCOO Europe GmbH, DH Casters Inc., Hamilton Caster & Manufacturing Co., Muvtons Castors Pvt Ltd., STEINCO Paul vom Stein GmbH, Bharat Industrial Corporation, Comfort Casters Global., Hengshui Yu Tong Metalwork Co. Ltd., Industrial Caster and Wheel Co., R&K Industrial Wheels, Colson Associates Inc., Blickle Rader+Rollen GmbH u. Co. KG, Shepherd Caster Corporation, Albion Industries Inc., Faultless Caster Division, Payson Casters Inc., Jarvis Caster Company, Revvo Caster Company Limited, Caster Concepts Inc., Medcaster Inc., Darcor Limited, Darnell-Rose Casters, Access Casters Inc., Douglas Equipment Company Inc., Stellana US Inc., Fallshaw Group Pty Ltd, Magnus Mobility Systems Inc., Durastar Casters
North America was the largest region in the caster wheel market share in 2024. The regions covered in the caster wheels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the caster wheels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The caster wheel market consists of sales of semi-steel caster wheels, ferrous caster wheels, flanged caster wheels, ductile steel caster wheels, glass-filled nylon caster wheels, and hard rubber caster wheels. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Caster Wheels Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on caster wheels market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for caster wheels ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The caster wheels market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.